Source: Zhitong Finance.

Golden Industrial Concept stocks collectively rose, and as of the time of reporting, LINGBAO GOLD surged nearly 6%, doubling its stock price this year; CHINAGOLDINTL, SD GOLD, and ZHAOJIN MINING each rose over 5%, while Zijin Mining Group rose over 4%.

On the news front, the trade tensions have heightened risk aversion, coupled with bets on a relaxation of MMF policies by the Federal Reserve, pushing gold prices to a new historical high on Thursday. Overnight, the New York futures gold rose by 1.85%, breaking through the $3000 barrier for the first time, closing at $3001.3 per ounce, setting a new record; spot gold this morning touched a historic high of $2990. Analysts at Macquarie Group expect that by the third quarter of this year, gold prices could rise to a record high of $3500 per ounce.

Debon Securities' Research Reports indicate that in the long term, gold prices are expected to continue rising due to factors such as the expansion of the US dollar; in the short term, the continued rise in expectations for Federal Reserve interest rate cuts and recent CPI data may stimulate gold prices to end the fluctuation and return to an upward trend, with opportunities for allocating gold and related stocks likely to gradually emerge.

Editor/jayden